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Asia-Pacific ratings roundup through Aug. 10


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Asia-Pacific ratings roundup through Aug. 10

S&P Global Market Intelligence presents a summary of ratings actions on Asia-Pacific financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.

Aug. 10

* Moody's upgraded Vietnam's long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive.

* S&P Global Ratings lowered the outlook on Japan's ORIX Corp. to negative from stable as the company's recent acquisitions, including the purchase of a 30% stake in Ireland-based Avolon Holdings Ltd., are expected to increase its overall business risk.

Aug. 9

* S&P affirmed and then withdrew Bank of Iwate Ltd.'s long- and short-term issuer credit ratings at A- and A-2, respectively.

Aug. 8

* Moody's lowered its outlook on the Indonesian banking system to stable from positive.

* S&P affirmed the long- and short-term sovereign credit ratings of Fiji at B+ and B, respectively. The outlook on long-term rating is stable.

* S&P raised the outlook on Japan's Hitachi Capital Corp. to stable from negative, with a stable outlook. The rating agency also affirmed the company's A- long-term and A-2 short-term issuer credit ratings.

* Moody's affirmed the issuer rating of ORIX Corp. at A3 following the company's announcement for the acquisition of a 30% stake in Avolon Holdings. The outlook is stable.

Aug. 6

* Fitch Ratings affirmed the long-term issuer default ratings of Malayan Banking Bhd., Hong Leong Bank Bhd. and Export-Import Bank of Malaysia Bhd. at A-, with stable outlooks.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.